ServiceNow (NYSE:NOW) Stock Price Up 0.5%

Shares of ServiceNow, Inc. (NYSE:NOW) were up 0.5% on Thursday . The stock traded as high as $768.76 and last traded at $762.57. Approximately 204,316 shares were traded during trading, a decline of 83% from the average daily volume of 1,220,438 shares. The stock had previously closed at $759.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NOW shares. Mizuho boosted their price target on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. JMP Securities lifted their target price on ServiceNow from $665.00 to $825.00 and gave the stock a “market outperform” rating in a research report on Monday, January 22nd. Truist Financial raised their price objective on shares of ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Argus increased their price objective on ServiceNow from $675.00 to $770.00 and gave the company a “buy” rating in a report on Wednesday, December 6th. Finally, Oppenheimer raised their price target on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Two research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $762.96.

ServiceNow Price Performance

The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The company has a 50 day simple moving average of $769.61 and a 200 day simple moving average of $680.16. The stock has a market cap of $156.13 billion, a P/E ratio of 91.16, a PEG ratio of 4.96 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the business earned $0.88 EPS. ServiceNow’s quarterly revenue was up 25.6% compared to the same quarter last year. Sell-side analysts forecast that ServiceNow, Inc. will post 6.11 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares in the company, valued at $776,373.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the sale, the insider now owns 994 shares of the company’s stock, valued at $776,373.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,164 shares of company stock valued at $9,940,303. 0.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors have recently modified their holdings of NOW. HighPoint Advisor Group LLC acquired a new position in ServiceNow during the 4th quarter worth about $2,938,000. Accent Capital Management LLC acquired a new stake in ServiceNow in the fourth quarter valued at about $1,780,000. B. Riley Wealth Advisors Inc. lifted its holdings in shares of ServiceNow by 19.1% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 13,684 shares of the information technology services provider’s stock worth $9,667,000 after purchasing an additional 2,196 shares during the period. Leo Wealth LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at about $490,000. Finally, Sivia Capital Partners LLC purchased a new position in ServiceNow in the fourth quarter worth $244,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.